The Yen appreciates as the demand for it rises

The Yen appreciated against its 16 major counterparts as the European leaders did not decide on exact measures to deal with the debt crisis. The demand for the Yen rose as Japan's currency is considered to be a safe haven. On Thursday morning, July 19, the Yen climbed 0.3% to JPY 96.47 per EUR. Moreover, the US Dollar fell to a two-week low against the Yen, JPY 78.47.